Related Commentary  

5B(1)  This regulation applies where–

(a)a person pays a manufactured overseas dividend, and

(b)the payment is made as part of a chain of payments (“a CCP chain”), which may form part of a chain of payments to which regulation 5(2) or 5A applies, where conditions A to C are met.

5B(2)  Condition A is that each payment in the CCP chain is a payment of a manufactured overseas dividend representative of the same overseas dividend.

5B(3)  Condition B is that each payment in the CCP chain is made–

(a)by or to a central counterparty,

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